VM Elektro: what changed
Two fiscal years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
VM Elektro
Largest movements
- Receivables within one year -€69,734
down €69,734 (-70.1%), from €99,479 to €29,745
of which Trade receivables: -€71,471
- Tangible fixed assets -€20,123
down €20,123 (-24.3%), from €82,869 to €62,746
of which Furniture and vehicles: -€11,001
- Cash +€17,520
up €17,520 (+135.7%), from €12,910 to €30,430
mainly Receivables within one year (+€69,734) and Depreciation (+€36,997)
- Intangible fixed assets -€12,083
down €12,083 (-17.2%), from €70,083 to €58,000
- Deferred charges and accrued income +€3,719
new in 2025: €3,719
- Trade debts -€63,900
down €63,900 (-80.6%), from €79,253 to €15,353
- Debts after one year -€30,050
down €30,050 (-38.4%), from €78,158 to €48,108
- Reserves +€14,330
up €14,330 (+22.1%), from €64,850 to €79,180
- Current portion of long-term debt -€7,915
down €7,915 (-20.8%), from €37,966 to €30,050
- Tax, wage and social debts +€4,230
up €4,230 (+181.0%), from €2,337 to €6,567
- Gross operating margin +€16,262
up €16,262 (+38.6%), from €42,089 to €58,351
- Depreciation +€6,585
up €6,585 (+21.7%), from €30,412 to €36,997
- Taxes +€4,230
up €4,230 (+181.0%), from €2,337 to €6,567
- Financial income +€3,072
up €3,072 (+14221.8%), from €22 to €3,094
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €282,593 | €199,294 | -€83,299 | -29.5% |
| Fixed assets | 21/28 | €152,952 | €120,746 | -€32,207 | -21.1% |
| Intangible fixed assets | 21 | €70,083 | €58,000 | -€12,083 | -17.2% |
| Tangible fixed assets | 22/27 | €82,869 | €62,746 | -€20,123 | -24.3% |
| Plant, machinery and equipment | 23 | €13,815 | €14,257 | +€442 | +3.2% |
| Furniture and vehicles | 24 | €46,177 | €35,176 | -€11,001 | -23.8% |
| Leasing and similar rights | 25 | €22,877 | €13,312 | -€9,565 | -41.8% |
| Current assets | 29/58 | €129,640 | €78,548 | -€51,092 | -39.4% |
| Stocks and contracts in progress | 3 | €17,251 | €14,654 | -€2,597 | -15.1% |
| Stocks | 30/36 | €17,251 | €14,654 | -€2,597 | -15.1% |
| Amounts receivable within one year | 40/41 | €99,479 | €29,745 | -€69,734 | -70.1% |
| Trade receivables | 40 | €93,980 | €22,509 | -€71,471 | -76.0% |
| Other amounts receivable | 41 | €5,499 | €7,236 | +€1,737 | +31.6% |
| Cash at bank and in hand | 54/58 | €12,910 | €30,430 | +€17,520 | +135.7% |
| Deferred charges and accrued income | 490/1 | - | €3,719 | +€3,719 | |
| Total equity and liabilities | 10/49 | €282,593 | €199,294 | -€83,299 | -29.5% |
| Equity | 10/15 | €84,879 | €99,215 | +€14,337 | +16.9% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €64,850 | €79,180 | +€14,330 | +22.1% |
| Distributable reserves | 133 | €64,850 | €79,180 | +€14,330 | +22.1% |
| Profit (loss) carried forward | 14 | €29 | €35 | +€7 | +23.9% |
| Amounts payable | 17/49 | €197,714 | €100,078 | -€97,636 | -49.4% |
| Amounts payable after more than one year | 17 | €78,158 | €48,108 | -€30,050 | -38.4% |
| Financial debts | 170/4 | €78,158 | €48,108 | -€30,050 | -38.4% |
| Amounts payable within one year | 42/48 | €119,556 | €51,970 | -€67,586 | -56.5% |
| Current portion of amounts payable after more than one year | 42 | €37,966 | €30,050 | -€7,915 | -20.8% |
| Trade debts | 44 | €79,253 | €15,353 | -€63,900 | -80.6% |
| Suppliers | 440/4 | €79,253 | €15,353 | -€63,900 | -80.6% |
| Taxes, remuneration and social security | 45 | €2,337 | €6,567 | +€4,230 | +181.0% |
| Taxes | 450/3 | €2,337 | €6,567 | +€4,230 | +181.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,412 | €36,997 | +€6,585 | +21.7% |
| Other operating charges | 640/8 | €443 | €321 | -€122 | -27.5% |
| Non-recurring operating charges | 66A | - | €520 | +€520 | |
| Gross operating margin | 9900 | €42,089 | €58,351 | +€16,262 | +38.6% |
| Operating profit (loss) | 9901 | €11,234 | €20,514 | +€9,280 | +82.6% |
| Financial income | 75/76B | €22 | €3,094 | +€3,072 | +14221.8% |
| Recurring financial income | 75 | €22 | €3,094 | +€3,072 | +14221.8% |
| Financial charges | 65/66B | €2,811 | €2,703 | -€108 | -3.8% |
| Recurring financial charges | 65 | €2,811 | €2,703 | -€108 | -3.8% |
| Profit (loss) for the period before taxes | 9903 | €8,444 | €20,904 | +€12,460 | +147.6% |
| Income taxes | 67/77 | €2,337 | €6,567 | +€4,230 | +181.0% |
| Profit (loss) for the period | 9904 | €6,107 | €14,337 | +€8,230 | +134.8% |
| Profit (loss) for the period to be appropriated | 9905 | €6,107 | €14,337 | +€8,230 | +134.8% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.